Centene (NYSE:CNC) Stock Rating Upgraded by Zacks Research

Centene (NYSE:CNC) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on CNC. Bank of America raised Centene from an “underperform” rating to a “buy” rating and raised their price target for the company from $34.00 to $60.00 in a report on Wednesday, April 29th. Mizuho raised their price target on Centene from $41.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft raised their price target on Centene from $39.00 to $53.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. TD Cowen reissued a “hold” rating and set a $47.00 price target (up from $38.00) on shares of Centene in a report on Monday. Finally, Oppenheimer reiterated an “outperform” rating and set a $58.00 price objective (up from $45.00) on shares of Centene in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Centene presently has a consensus rating of “Hold” and an average price target of $53.82.

Centene Price Performance

NYSE CNC opened at $54.86 on Wednesday. Centene has a 12 month low of $25.08 and a 12 month high of $64.15. The stock has a market cap of $27.09 billion, a price-to-earnings ratio of -4.18, a PEG ratio of 1.07 and a beta of 1.06. The company’s 50 day moving average is $39.59 and its two-hundred day moving average is $39.89. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.76.

Centene (NYSE:CNC) last released its earnings results on Tuesday, April 28th. The company reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $1.14. Centene had a negative net margin of 3.25% and a positive return on equity of 5.57%. The company had revenue of $49.94 billion for the quarter, compared to analysts’ expectations of $47.53 billion. During the same quarter last year, the business earned $2.90 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts anticipate that Centene will post 3.46 earnings per share for the current year.

Institutional Investors Weigh In On Centene

Large investors have recently made changes to their positions in the company. Addison Advisors LLC increased its holdings in shares of Centene by 455.6% in the third quarter. Addison Advisors LLC now owns 739 shares of the company’s stock worth $26,000 after purchasing an additional 606 shares during the last quarter. DV Equities LLC bought a new stake in Centene in the fourth quarter worth $26,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Centene in the third quarter worth $27,000. IFC & Insurance Marketing Inc. bought a new stake in Centene in the fourth quarter worth $28,000. Finally, SBI Securities Co. Ltd. increased its position in Centene by 118.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 749 shares of the company’s stock worth $31,000 after purchasing an additional 406 shares during the last quarter. 93.63% of the stock is owned by institutional investors.

Centene Company Profile

Centene Corporation (NYSE: CNC) is a diversified, multi-national healthcare enterprise that specializes in providing services to government-sponsored and national health programs. The company primarily acts as a managed care organization, delivering healthcare coverage and administering benefits for Medicaid, the Children’s Health Insurance Program (CHIP), Medicare Advantage, and individual marketplace plans. Centene also contracts with federal and state agencies to manage specialty care programs and community-based services for vulnerable populations.

Centene’s offerings extend beyond traditional insurance to include a range of specialty and support services.